The Egyptian cabinet has renewed its approval on the issuance of new Samurai bonds worth $500 million that mature in five years, as per a statement on October 24th.

Moreover, the cabinet has ratified the procedures of issuing the first sovereign and sustainable Panda bonds in the Chinese market.

It has also endorsed the presidential draft resolution on the €56.7 million grant agreement signed with the French Development Agency (AFD) to boost the storage capacity of wheat silos by building additional silos, along with enhancing the efficiency and quality of wheat import chains.

Additionally, the cabinet has approved the signing of a memorandum of understanding (MoU) between the Egyptian Electricity Transmission Company (EETC) and the Belgian Jan De Nul to embark on the studies needed for exporting renewable electricity from Egypt to Europe via the Mediterranean through a submarine line of 2 gigawatts (GW) at least.

 

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